Condolences to those that have ridden ZIL from the top on this 16 day retrace.
But.... Thoughts are that a turn around is in the cards within the next week or so.
Buyers seem more cautious over the last fortnight and the continued retrace has echoed through a lot of our favored ALT's.
I think we'll find some resistance on the way back up but entry on the break or support levels now seems more appealing due to the lengthy retrace.
There's certainly room for a further dip before a change in the trend but indicators look appealing for a reversal this week.
I'd be keeping on eye on this project over the coming days.
As always, not financial advice, just my thoughts and TA.
Thoughts and feedback welcomed.
Bingaz
But.... Thoughts are that a turn around is in the cards within the next week or so.
Buyers seem more cautious over the last fortnight and the continued retrace has echoed through a lot of our favored ALT's.
I think we'll find some resistance on the way back up but entry on the break or support levels now seems more appealing due to the lengthy retrace.
There's certainly room for a further dip before a change in the trend but indicators look appealing for a reversal this week.
I'd be keeping on eye on this project over the coming days.
As always, not financial advice, just my thoughts and TA.
Thoughts and feedback welcomed.
Bingaz
